Using the equally likely criterion you choose the alternative with the highest in the decision table.

Name: Using the equally likely criterion you choose the alternative with the highest in the decision table.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The equally likely criterion, also known as the Laplace criterion, involves assigning equal probabilities to each state of nature and choosing the alternative with the highest average payoff, not the highest individual payoff in the decision table.

Using the Equally Likely Criterion You Choose the Alternative with the Highest